Daxrobot Review 2020 Is Dax Robot Automated Trading System Legit or Scam

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SCAM ROBOT: DAXrobot and DAXBASE review

This review is an explanation of why you have to stay away from DAXrobot and the broker DAXBASE.

DAXrobot is supposed to be an automated trading solution for financial markets. This robot will trade for you and allegedly earn you money.

It is supposed to do that with the DAXBASE broker that claims to be regulated. Can you trust these solutions?

Table of Contents

DAXrobot scam

Let’s start with the DAXrobot. The picture of the robot shows a software that we have already seen several times with investment scams.

This robot is not profitable, in fact, it loses money in real trading. It’s a software created by scammers to attract people to shady brokers.

Or you thought that a free software will make you money? No free robot will make you money in trading, it would go against basic economic principles.

DAXBASE is NOT regulated

Now on to the broker DAXBASE. On its webpage you will find a big statement that it is regulated. But it is not true.

In fact, DAXBASE is an anonymous broker that is not even showing a physical address! It only shows some phone numbers, that’s all.

DAXBASE is not regulated in any country, therefore it cannot offer its services in any country that has a financial regulation.

With brokers that are not regulated your money is not protected in any way, you should never trade with them.

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Conclusion

DAXrobot is a scam robot and DAXBASE is a broker that is not regulated. Stay away from them!

If you want to try financial trading, do it on a free demo with a regulated broker.

Bear in mind that trading is risky, so be careful and if you decide to switch to real money trading, invest only money that you can afford to lose.

Forex robots and how they work

In essence, there are two ways Forex traders can approach trading: they can either decide to analyse the market and trade on their own, or they can go with the increasingly popular Forex trading robots that do all the hard work for you and place trades automatically. But, are they really a profitable substitution to trades hand-picked by experienced Forex traders? Let’s find out.

What is a Forex trading robot?

A Forex trading robot is a simple (or complicated) computer program that analyses the market through various mathematical algorithms, connects with your trading platform and opens, manages, and closes trades automatically. All you have to do is install them to your trading platform as an add-on, and you’re done.

Forex robots continuously follow the market and include each new price tick in their calculation to find a trading opportunity. Once the results of their calculations show that it’s a good time to buy or sell a currency pair, the Forex robot will send a signal to your trading platform to open the trade and keep it open until the price hints that the setup is no longer valid. That’s when the robot will close the position, ideally leaving you with a profit.

There are virtually thousands of trading robots that can be found online. While some of them are free of charge, there are also many robots that need to be purchased. They usually come in the form of an EA (Expert Advisor), which are then copied in your MetaTrader’s installation folder and the next time you open your platform, you’ll see the robot (EA) listed in your platform’s navigator window.

As previously mentioned, Forex robots usually rely on purely mechanical rules to find a tradeable setup. In the following lines, we’ll dig deeper into the construction of a Forex bot and mention some advantages and drawbacks of trading using robots instead of trading on your own.

Trading robots rely on mechanical rules

One of the main characteristics of Forex trading robots is that they rely on mathematical algorithms to find a trade setup. To do so, many Forex robots incorporate various technical indicators which are then used to decide whether to buy or sell a currency pair.

Popular technical indicators used in the programming of Forex robots include moving averages, oscillators and trend-following indicators. For example, a very simple trading robot may initiate a buy signal if a 100-period moving average crosses a 200-period moving average from the downside. Sound familiar? Yes, this is a popular MA strategy called the MA crossover. What the Forex robot does is simply automate the process of following when a moving average cross happens, across many different currency pairs. For sure, this has many advantages compared to manually looking for an MA cross, but the ultimate trading performance is only as good as the MA crossover strategy can be – whether executed manually or automatically.

Another example of a Forex bot is the usage of the Average Directional Movement Index. A Forex robot can be programmed to open a long position only when the ADX indicator shows that the current trend is up, or to open a short position only when the ADX indicator shows that the current trend is down.

Since the ADX indicator usually lags the price (just like most other technical indicators), the Forex robot may open the trade when the initial price movement is already completed, leaving you either with a small profit or a loss if the price reverses. The following chart shows a simple mechanical trading rule which can be programmed into a Forex robot, using the ADX indicator to open trades.

Mechanical trading rules usually work only during certain trading conditions. A trend-following robot would have a difficult time generating profits in range-bound markets, while a robot that trades support and resistance levels will likely disappoint in strongly trending markets. While more complicated robots take into account the current market environment, their performance is still tamed by existing limitations of mechanical trading rules.

How to evaluate a Forex trading robot

Since Forex trading robots are basically EAs, they can easily be back-tested using the MetaTrader platform. Many Forex bot providers have already done that, so you can pick the one that suits your trading goals. Metrics that one needs to consider are profitability, profit ratio, winning ratio, and maximum drawdown, as these are the most important metrics that are used in the evaluation of any trading strategy.

If you’re using the MetaTrader platform, you can check a Forex robot’s performance by clicking on the Signals tab inside the Terminal window and selecting a bot. This will open a window like the one shown in the following picture.

You can check the robot’s growth rate, net profit, number of subscribers, as well as the subscriber’s funds, maximum drawdown, trades per week, average holding time, and more. Make sure to make your analysis if you want to employ an automated Forex robot to trade for you, as you want it to make the right trading decisions and return a profit.

How to use Forex trading robots

By now, you know what a Forex trading robot is, how it works, and how to evaluate its performance. Now it’s time to explain how to make the most out of the Forex trading bot, by taking into account the way it makes its trading decisions.

The most important rule is to use a trading robot only during certain market conditions for which the robot is programmed. Just like with an airplane, the pilot will manually perform the take-off and landing procedures, and fly on auto-pilot only once everything works fine and the airplane is in the air. Similar to this analogy, you shouldn’t use a trading robot during market disruptions and important macro-releases (unless the robot is programmed specifically to trade macro-releases). In addition, don’t use a trend-following robot when the market is ranging, and vice-versa.

Knowing the market conditions during which your robot returns the best results is mandatory, so you can employ them only in times when their profitability is the highest. You can also use several robots with different trading strategies and use them according to the current market environment. This way, you’ll make the most out of the trading robots.

Advantages and drawbacks of trading robots

Trading with Forex robots has both its advantages and drawbacks. The most notable advantage is that the robot is programmed to do all the hard work for you. It will analyse the market using its algorithms and automatically open, manage, and close the trades for you. The drawbacks of using Forex robots are closely related to its advantages: Can a robot really be profitable, and can the markets be successfully analysed and traded according to mechanical rules?

Here are the most obvious pros and cons of Forex robots:

1) Pro: automated trading – Simply run your Forex robot and you’re done. It will trade for you, and you only need to watch your trading account growing (hypothetically). Automated trading is the most significant advantage of robots, as it prevents emotional trading and you have more free time to spend on other things.

2) Con: mechanical trading doesn’t always work – This is the main disadvantage. Markets cannot really be traded using mechanical rules all the time. Large market disruptions, unexpected events, and changes in risk sentiment and in market conditions can all cause a profitable robot to become unprofitable. This can be partly offset by using multiple robots for various market conditions, but hand-picked trades from experienced traders will likely beat any robot’s performance.

3) Con: risk and loss management – A robot will open a trade whenever its algorithm says so. Even if you wouldn’t take the trade in manual trading, a robot has no common sense and simply follows orders. While some robots have advanced risk management rules, programming common sense is still not possible, which can lead to losses which could have been avoided otherwise.

Conclusion

Forex trading robots are computer programs that can be utilised as add-ons to your trading platform. They use mechanical trading rules to analyse the market and open, manage, and close trades automatically. While this may sound like the Holy Grail of trading, you need to be aware that robots have their limitations, which prevent them from being profitable all of the time.

This is not to say that you shouldn’t use robots. Trend-following robots will do extremely well in a trending market, and robots that are programmed for ranging markets will be profitable in range bound markets. Still, you need to take an active role in determining current market conditions and switch between various robots to make the most of them.

Also, don’t forget to evaluate a robot’s performance before you utilise it in trading. Key metrics such as profitability, growth rate, maximum drawdown, winning ratio, and net profits need to be taken into consideration when choosing the best Forex robot for you. By following these rules and being aware of the advantages and drawbacks of Forex trading robots, you can start to enjoy the profits that come with automated Forex trading.

Daxrobot Review 2020: Is Dax Robot Automated Trading System Legit or Scam?

DaxRobot Reviews: Is this System Worth the hype? Dax Robot is a new crypto bot launched this year. Though relatively new in the crypto world space it has been on the lips of many crypto Traders. This review brings into limelight what Daxrobot is all about and if it is a safe bot for trading. >> Look here

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Dax Robot Review: What is Daxrobot?

DaxRobot trading software is a unique product for CFD/Forex trading, created to help traders to make profits fast and easy. It also has a manual option. What this means is that if you want to trade on your own just stop the robot and go to the brokers page, log in into the system with the same log in password. The robot is web-based meaning you do not have to download anything in order to access and start using Daxrobot app. See here

FEATURES

  • USER FRIENDLY BOT.
  • LIVE CHAT
  • WEB BASED BOT
  • AFFORDABLE DEPOSIT
  • AWESOME USER INTERFACE

How Does Daxrobot Work?:

Daxrobot automated CFD trading bot is quite simple to use. All you need to do is fund your account according to the amount of deposit you are ready to invest and choose the robot you like. The robot will place the trades automatically, using the integrated algorithms. The higher the investment amount the more assets are available for robot to trade on. This is an easy and profitable way to get additional income without spending time on market research and analytics.

Should You Trust DaxRobot With Your Money?:

Though there are not much information on their web site, judging from the pictures and the platform we can say Daxrobot is a safe bot to trade with. If at a time you think you want to trade on your own there is an option for that, where you can get a broker ‘Daxbase’ to lead you’. Daxrobot is compliant with all financial regulation standards, however, as the business is international they are not limited within particular country regulatory framework.

Visit Official Website>>>

Conclusion:

Because this company is quite new, there are very few customer reviews online. However, we believe Daxrobot is safe and we recommend it for trading as there is limited risks associated with using this app for trading. The minimum deposit to start trading is $250, this is not the price of the robot as it is free to use, your deposit is your investment money.

DaxRobot Review and Guideline

Trading can be both thrilling and disastrous depending on the knowledge you possess and the platform you choose. It has multiple underwater stones and traders, especially new ones, may face a variety of problems if not devoting enough time to researching and learning.

One of them is choosing a right broker. If you fail to find a reliable, reputable and competent platform, you risk of losing investments. That is why this manual will be useful for users of all proficiency levels and for those, who are thinking whether to entrust their money to DaxRobot or not. Make yourself comfortable and let’s get started!

About DaxRobot

DaxRobot is an automated platform for trading, which generates signals taking into account a variety of algorithms and systems of recognizing patterns. It allows to identify correct signals and to use them for making profits.

In other words, with Dax Robot you will be able to make money with minimum interference just sitting at home and sipping coffee. What can be better than that?

Benefits of DaxRobot include:

  • A simple and convenient interface, which allows users to master trading with ease. Even if you are completely new to the world of online investments you will easily understand how to get started;
  • Customer support always provides timely assistance and their managers speak multiple languages for maximum convenience. In addition, they can be reached through the phone or via email and a live chat with a video option;
  • There are no additional fees for those, who decide to use DaxBase. Only the minimum deposit!
  • Considering that the service is relatively new, there is a slight incoordination on the website and the income claims may be quite challenging to achieve;
  • DaxBase is the only broker the platform can be integrated with, which greatly limits traders;
  • Demo sessions are only one minute long and afterwards you need to make a minimum $250 deposit;
  • Partner-broker is also new to the field and is unregulated.

DaxRobot Features

Although DaxRobot doesn’t have such a long operating history, it definitely has a few features that competitors can’t boast. Here are the main of them:

Automated Trading

DaxRobot can offer a variety of trading bots with new ones emerging on regular basis. Every robot is listed depending on the profits and if you look at the top ten you will see that their profit percentages start at 97%.

Every robot has a number of characteristics. For example, you can choose a bot depending on the market it works with. You can also choose a market depending on the cryptocurrency you are interested in (BTC/USD, LTC/USD or others).

It is important for every trader to choose a robot that complements trading strategies and levels of risks. Don’t forget that every robot is locked after a demo period and you can unlock it by making a certain deposit (different for various bot types).

Broker Integration

At the moment, DaxRobot can be integrated only with DaxBase (a partner service and a forex broker). Unfortunately, representatives of the company didn’t give any information on their plans on integrating other brokers, for example FXTM.

For a regular user this means that you should first create a DaxBase account and only then start utilizing DaxRobot. However, despite the fact that DaxBase is quite new on the market, it has a solid reputation and more and more users choose it for their trading operations.

DaxRobot Availability and Pricing

Luckily, DaxRobot can be used almost in every country. For example, its partner-broker DaxBase can be utilized anywhere except the USA.

DaxRobot has a demo version but it ends after a minute. To start trading you need to unlock the chosen robot, each of which has its own minimum deposit (starting with $250).

To make deposits or withdraw money, you should first create a DaxBase account and place your money there. Here are only some of the deposit methods: Ethereum, Bitcoin, Dash, Litecoin, Netteller and Skrill. On top of it, credit/debit cards can also be used.

The same methods are applied to withdrawals and the processing time is very short.

DaxRobot Deposits and Withdrawals

As it has already been mentioned above, there are no concrete fees for utilizing DaxRobot. You are only limited to two facts: your deposit should be minimum $250 and you must use DaxBase broker. These rules should be followed not depending on the bot you choose.

Keep in mind, if you use credit or debit cards, the system will charge 5%. The platform offers three types of accounts:

  • Bronze. $250 deposit minimum;
  • Silver. $1000 deposit minimum. You get access to Champion Class;
  • Gold. $3000 deposit minimum. You are assigned with a personal manager.

How to Use DaxRobot Software

At first it may seem quite difficult to master this automated trading platform. However, DaxRobot is really friendly and simple to use, so even beginners will understand what to do. The platform did their best to make the interface easy to understand even for the users, who have never traded before.

Actually, the only thing you should do to turn on automated signals is to log in to the system! You will get a chance to alter the system based on your preferences but DaxRobot took care of everything and have already configured the process to initialize winning signals!

If you look at the panel on the left, you will see a variety of bots that are listed based on the accuracy percentage. This allows choosing the best session depending on the strategy you have. The system will also prevent you from overly impulsive decisions if you know that you can lose your head.

Unfortunately, some beginners or too emotional traders decide that it is better to place signals without a robot, which results in losing all the investments. To be on a safe side it is better to take your time, choose a proper robot and then just sit and watch!

To register in the system you need to follow the stages below:

  1. Open a free account;
  2. To activate it you need to make a deposit (minimum $250);
  3. Before starting a new session, read the news (for example, on investing.com) to be sure that the pairs you are going to trade with are stable and strong;
  4. To increase your chances of winning, make sure you watch a variety of tutoring videos and read articles of reputable traders;
  5. When you have earned the money you wanted to earn, initialize the withdrawal and enjoy the earnings!

To avoid any problems with synchronization, it is recommended to make a deposit right after you create an account.

DaxRobot Results

DaxRobot offering is very clear and understandable: this automated system for traders produces speedy results. However, before starting using the platform you should keep in mind that there are several reservations.

First of all, you need to put aside the thought that you will double or even triple your money within a day. Market situation is constantly changing and trading robots can’t predict or greatly influence the situation.

Income rates of 200% are very rare on all of the platforms, including automated systems. That is why DaxRobot’s suggestion of doubling or tripling incomes is far from reality. Although, if you don’t expect a speedy result or a whirlwind income, DaxRobot proved its reputation and can be recommended to traders of all levels of expertise. The only disappointment is that DaxRobot uses a single broker, which limits options of traders.

Trustworthiness and Support

Any trader knows how important it is to choose a reliable broker. Actually, most of the users will choose a more expensive system if it has additional guarantees. Luckily, DaxRobot is one of them. This system has just enough information to show that it is reputable (awards, reviews) and not to bore the user with irrelevant details.

Another important fact that shows that DaxRobot is worth attention is the quantity of positive testimonials. Actually, it is almost impossible to find a negative comment and users seem to be very satisfied from using the platform.

Customer support is another important issue that indicates whether the platform can be trusted or not. You can contact their managers via live chat, email or a phone call. You can even have a video chat with the support team member, which is quite weird but why not?

Such a variety of options means that they take care about the users and are always ready to provide necessary assistance. Moreover, if you become a gold member, you will have your own VIP manager.

Recommendations when using the Dax Robot

Now, when you know what DaxRobot is and how it operates, you only need to keep in mind a few tips (actually, they can be applied not depending on the trading platform you choose).

Considering the fact that DaxRobot is quite new on the market, you will need to control the trading session. Moreover, it is highly advisable to follow the news: if something unpredictable happens, your earnings may burn and you will lose everything.

In addition, it is recommended to turn the system off when you earn the profits you planned to earn. Over-trading is a popular problem for users, who don’t know when to stop. If you want to earn and not to lose, shut the system off and withdraw your money to be on a safe side.

Final Conclusion

It is now a right time to summarize everything that was stated above. DaxRobot is a new automated trading platform, which has lots of benefits. It is very simple to use, so even if you are new on the game it won’t be difficult to start trading.

Managers of the support team show their professionalism and can always answer any of the questions, even if your native language is not English. However, you need to remember that DaxRobot is relatively new on the market, so slight imperfections may happen.

The system has all of the chances of being called a reputable and profitable platform, so the only thing they require is time. Users can entrust their money to the platform, choosing the robot they prefer, making no additional payments and withdrawing earnings within minutes.

It is a great start for a trading platform and DaxRobot is surely worth your attention if you are looking for an automated system that will save your time and money.

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